Brokerage firm Macquarie has downgraded Paytm to ‘underperform’ and sharply cut its target price to Rs 275 from Rs 650, citing a serious risk of customer exodus. Paytm's shares hit a record low amid fears of customer loss. Additionally, the Reserve Bank of India has instructed Visa and Mastercard to halt card-based vendor payments made by corporations, leading to a significant drop in One 97 Communications' shares.
#ED has initiated preliminary inquiry against #Paytm Payments Bank. The action comes days after the Reserve Bank of India barred the Paytm subsidiary from accepting new deposits from February 29. The central agency's move is a fresh setback to the Payments Bank, especially… https://t.co/nOIHySmELo
India cenbank asks Visa, Mastercard to stop B2B payments via fintech platforms -sources https://t.co/8OompnGhp1 https://t.co/5F0NLSZz0A
💳 Card networks seek clarity from @RBI on compliance lapses in card-based #B2B payments Multiple fintech startups are understood to have conveyed to their users that such transactions have been put on hold. By @PratikBhakta_89 https://t.co/M1fUQCekT2
$V (+0.1% pre) Visa halts intermediated commercial card payments in India after regulatory order - Reuters https://t.co/Rbv6fJuPzK
"Reserve Bank of India asked ... Visa and Mastercard to stop card-based commercial payments made by corporations and small enterprises" (Economic Times) Also reported in Reuters, which described this as halting "domestic transactions for business payment solution providers" $V…
Visa halts intermediated commercial card payments in India after regulatory order https://t.co/vumvwQIp40 https://t.co/1XKFR2e83k
#Paytm shares crash after case against payments bank. More trouble ahead? Read: https://t.co/eQaai4Aci2 https://t.co/g3QcAATZPn
⚠️ VISA HALTS INTERMEDIATED COMMERCIAL CARD PAYMENTS IN INDIA FOLLOWING RBI ORDER Full Story → https://t.co/KtVbtvARkN
Charges Against Paytm Payments Bank To Be Probed By Enforcement Directorate https://t.co/CFJklOOwF9 https://t.co/IeTzhTGmrq
Shares of One 97 Communications, the parent company of #Paytm, experienced a significant drop of up to 9% on Wednesday, reaching a low of Rs 344.90 on the Bombay Stock Exchange. Read more 🔗 https://t.co/jzN1XTEQju https://t.co/CXVZUJZXgs
Visa, Mastercard stop business payments via cards post RBI instructions In a surprise move last night, the Reserve Bank of India asked card networks like Visa and Mastercard to stop card-based vendor payments made by corporations. https://t.co/P3Tlk7vSBn
#Exclusive After Paytm Payments Bank and a set of lending companies, Reserve Bank of India has now come hard on fintechs offering commercial/corporate cards. According to three sources, RBI has asked Visa and Mastercard to stop transactions of vendor payments. While there has…
🚨 ETtech Top 5 | Macquarie downgrades #Paytm; IT headcount drops again Also in this letter: ■ Rapido launches #SaaS model for auto services ■ @EndiyaVC' third fund ■ Upgrad's #IPO plans Read more 👇 https://t.co/aFnaJtZ5Cp #PaytmPaymentsBank
India's Paytm shares hit record low on fears of customer loss https://t.co/Rq3VlDs9Ch https://t.co/DDGSHabC4x
Paytm Faces Serious Risk of Customer Exodus, Macquarie Says https://t.co/s1XzYNiE6w
Paytm Faces Serious Risk of Customer Exodus, says Macquarie https://t.co/HfsF2ymZal
Brokerage firm @Macquarie has downgraded @Paytm to ‘underperform’ and sharply cut its target price to Rs 275 from Rs 650 citing a serious risk of customer exodus which “significantly jeopardises its monetisation and business model”